- 44 -
Jaroff called me after discussing the transaction with Mr.
Tucker, and asked me * * * to confirm the information that Noel
[Tucker] had given him". As Becker recalled, he and petitioner
discussed the Plastics Recycling transactions for approximately
15 to 30 minutes in Tucker's office. Asked if his testimony
would be different if petitioner were to testify that he had met
Becker only once, and that he had spoken only to Tucker and
Shuffrin about the Partnerships, Becker replied: "No. * * * [My
testimony] wouldn't be different." Asked if he had a definite
recollection of talking to petitioner, Becker replied: "I recall
talking to him in Tucker's office."
With respect to what he told petitioner, Becker's testimony
is inconsistent. On direct examination, Becker testified that he
confirmed to petitioner that he and his associates at Becker Co.
had visited PI, observed the recyclers, and done everything they
thought appropriate. Becker testified that "I just confirmed
that we believed that we had done an appropriate level of due
diligence." On cross-examination, Becker modified his earlier
testimony and said:
I [told Jaroff] that I had done a high degree of
investigation, review, and analysis, as opposed to
saying I did due diligence * * *. I had told him about
some of the things that I had done, some of [the] other
things that Mr. Tucker had done, and we also had
discussed the investment with Jaroff. I had indicated
to him that, based upon my knowledge of his financial
circumstance, he could afford the risk. That was
basically the substance of my discussions with Mr.
Jaroff.
Page: Previous 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 NextLast modified: May 25, 2011